The NFT market has taken the world of cryptocurrency by storm. Following the launch of NFT marketplace Blur's new peer-to-peer perpetual lending protocol called Blend, reactions from the community have been mixed. The protocol aims to support NFT collateral and the team claims that it would collect zero fees from both lenders and borrowers.

Many members of the community lauded the move and praised Blur for taking a huge step forward in terms of efficiency. One commended the impact of the protocol on the space and its ability to effectively loan out ETH for yield and NFT JPEGs.

Those against the new protocol however, raised a red flag on the risks involved. This included being unable to pay the loan and in effect, losing much more money in the process. An NFT collector urged people to invest only money that they can afford to lose and warned them against taking the loan.

The team at Blur has been consistently asserting its place in the NFT space, setting off competition from the OpenSea platform. OpenSea has sought to one-up by eliminating fees, launching an advanced NFT marketplace aggregator, and other such strategies.

All in all, the new Blur protocol shows potential in tipping the scales in the OpenSea vs Blur rivalry. Although it sparks interest amongst the crypto faithful, moving forward, it's important to be aware of the risks associated with it and tread with caution.



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